Auction.com Named Among U.S. Housing Economy’s Most Innovative Tech Companies

IRVINE, Calif. – March 3, 2014 – Auction.com (www.auction.com), the world’s largest online real estate marketplace, has been recognized by HousingWire Magazine as a leading tech innovator in the U.S. housing economy.

The HW TECH100 considered more than 400 firms for its list of housing’s 100 most innovative technology companies. The list, which is the first to look at the entire housing economy, also includes Accenture, CoreLogic, Xerox and Zillow. The publication estimates that 600 technology firms serve residential real estate, residential mortgage lending, servicing and investments.

Paul Jackson, publisher and CEO of HousingWire, pointed out that the housing economy represents about one-third of the U.S. economy and it’s important that firms like Auction.com are recognized for their contributions.

"The revolution in mortgage and real estate technology is just getting started. What we’ve already seen happen in many other industries, from retail to news media, we’re now seeing take place on a grand scale in the U.S. housing economy. The HW TECH100™ recognizes those firms that are innovating the future of an industry that underpins much of the U.S. economic engine,” Jackson said.

Using state-of-the-art technology and world-class marketing, Auction.com has sold more than $20 billion in residential and commercial real estate since 2010. By attracting a global pool of qualified buyers to an easy-to-use, transparent platform, the company’s auctions establish a fair market value for the sale of residential, multi-story, office, retail and other properties.

“Our vision is to leverage the power of the internet to fundamentally change the way people buy and sell real estate,” commented Auction.com CEO and Co-founder, Jeff Frieden. “We believe that technology, intelligently deployed, can make real estate transactions, easier, more transparent, and more efficient, and are honored that HousingWire has recognized the technology innovations we are bringing to market.”